eCommerce Conversion Rate Optimization Tips 

(13 Formulas)

eCommerce Conversion Rate Optimization Formula

How To Make Money From eCommerce Store

Ecommerce Online Stores can provide a great way to sell products besides having your own personal blog, but they also come with their own set of challenges. The future of eCommerce is not in brick and mortar stores, but in online stores. 

There are several different ways that you can make money with an ecommerce store. You can sell products that you create yourself, or you can sell products that someone else creates. 

You can also sell digital products, such as ebooks or software, or physical products that ship to customers. 

Additionally, you can run ads on your store, or you can use affiliate marketing to make money. Lastly, you can also use dropshipping to keep your costs low and increase your profits. 

For any eCommerce store, there are few key optimization factors that have to be taken into consideration to sustain a healthy conversion rate and maintain a profitable business. 

Below are 13 ways to improve your rate of conversion instantly.

eCommerce Sales Growth Strategy

Optimization Is The Key To Make More Sales and Revenue:

 

If you want to make more money from your online store, what’s the best way to make that happen? 


First, you can try to get more traffic to your store. Presumably, more visitors equal more sales, right? This method of increasing sales has been used for years in both brick-and-mortar and online stores.

 

However, more sales don’t necessarily mean more profit. There is a much more effective way to increase your overall sales and revenue: improve your conversion rate.

 

Your conversion rate is the percentage of your visitors who purchase from you. For example, if you have 100 visitors and three of them buy from you, your conversion rate is 3%.

 

You can almost always improve the conversion rate on your website. This is good news because it means you can get more sales and revenue without needing to spend money to get more traffic. Improving your conversion rate is called Conversion Rate Optimization (CRO).

 

Let’s say that, using CRO, you’re able to increase your sales from three out of 100 visitors to six out of 100 visitors. By doubling your conversion rate, you double your revenue without increasing your spending at all.

 

CRO relies heavily on A/B testing. In a nutshell, A/B testing involves testing two variations of things against each other to see which produces more conversions. For example, you may try two different headlines on a page and see which generates more sales per 500 visitors.

 

Some important things to remember when doing A/B testing:


Always test only one variable at a time. In order to measure the results properly, focus on testing one change.

 

Ensure your tests reach statistical significance. Statistical significance simply means that enough events occurred (visitors, clicks, page views, sales) to ensure that the results are accurate and not some sort of fluke. 


Below is a list of 13 formulas to increase your conversion rate and optimize your eCommerce sales to the maximum level.

Formula #1: Price Anchoring

Price Anchoring Example

Price Anchoring Example


 

 

Formula #2: Image Optimization

eCommerce Image Optimization

Add Multiple High Quality Images 




Formula #3: Product Description

eCommerce Product Description

Create Highly Detailed Product Descriptions





Formula #4: eCommerce Testimonials

Include Customer Reviews





Formula #5: Checkout Best Practices

eCommerce Checkout Best Practices

Make Checkout As Simple As Possible



If shoppers must go through a complicated checkout process, your conversion rate will fall significantly. So, how do you simplify checkout? Consider implementing the following things.


Allow shoppers to check out as guests. Don’t make people sign up for an account with you before they purchase items.


Request the minimum amount of information. If you’re selling digital products and you don’t need a person’s physical address, don’t ask for it.


Be sure every input field is clear. Some input fields, such as dates or phone numbers, require special formatting. Make it crystal clear exactly how the data should be entered by customers.

 

Be upfront with shipping costs. Few things turn customers off like getting to the checkout page and discovering that shipping is much higher than what they expected.

 

Always make it easy to get to the shopping cart. Customers should be able to view their shopping carts at any point in the shopping process.

Formula #6: Customer Experience

eCommerce Customer Experience

Provide Assurances To Customers





Formula #7: Contact Page

eCommerce Contact Page

Make It Extremely Easy To Contact You




Formula #8: Sales Strategy

eCommerce Sales Strategy

Draw Attention To Items That Are On Sale

Price is a huge factor when it comes to shoppers making purchases. If you have certain items on sale, draw a lot of attention to those items. Highlight the sales on your homepage and across your various product pages.

 

There are different words you can use to highlight the discounts you’re offering:

 

 

One advantage to offering items on sale is that you can then cross-sell and upsell different products. Cross-selling is promoting related products, while upselling is promoting more expensive versions of the same product 

Formula #9: Flexible Payment Options

eCommerce Payment Options

Offer Multiple Payment Methods


Your potential customers want to be able to use their payment method of choice. If you don’t offer someone’s preferred payment method, there’s a good chance they won’t purchase from you.

 

At a minimum, you should accept all the major credit cards: Discover, American Express, Visa, and Mastercard. It would also benefit you to accept other methods of payment like Apple Pay, PayPal, Google Pay, and Venmo.

 

Ultimately, this is about providing convenience for your customers. If you want to have a high conversion rate on your site, it’s important to offer your customers the convenience they desire.

Formula #10: Abandoned Cart Rate

eCommerce Abandoned Cart Rate

Create Abandoned Cart Email Sequences


If you’re not trying to get customers to come back to their abandoned carts, you’re leaving a huge amount of money on the table. Instead of trying to find new customers, you can work to convert these customers. After all, they’re already familiar with you and the products you offer.

 

One of the best ways to recover abandoned carts is to send out a sequence of emails to the customer. These types of emails work well in abandoned cart sequences:



You can send out these emails over a series of days. It’s likely that when the customer sees these emails, they’ll be motivated to finish their purchase.

Formula #11: Create A Sense of Urgency

eCommerce Special Sale Fomo

When customers feel a sense of urgency, they’re more likely to purchase from you. People have a distinct fear of missing out (FOMO).

 

So, how can you create urgency?

 




 

It’s important to note that the urgency you create must be real. If you tell people an offer is only available for a limited time, keep your word. If people see you still giving the same offer after the expiration date, they won’t trust anything you say.

Formula #12: Easy Navigation Channels

eCommerce Category List Optimization

Make it really easy to find products on your website, especially if you have a large number of them. They want to get where they’re going quickly and with minimum fuss. Use these strategies:




 

One easy way to tell if things are easy to find on your site is to ask real people, such as your friends or family members, to navigate through your site. Have them record their experience in real time using a screen recorder like Loom or Quicktime.

Formula #13: Mobile Optimization

eCommerce Mobile Optimization Tips

Optimize The Shopping Experience For Mobile Devices

There’s a big difference between ensuring your site works on a mobile device and optimizing the shopping experience itself. When the shopping experience is optimized, it’s easy and even pleasant to shop your store on a mobile device. 


Evaluate the shopping experience with the following questions:

 

 

If you want a great example of what a highly optimized shopping experience looks like, simply visit Amazon on your smartphone. The company has literally spent millions of dollars creating the ideal experience for shoppers.

eCommerce FAQ

What is an ecommerce website?

An ecommerce website is an online store where customers can buy products directly through the site. Businesses that sell products and services online are referred to as ecommerce businesses. Ecommerce websites allow buyers to purchase items online without having to leave their home. By using the internet, ecommerce businesses reduce overhead costs and increase productivity. 

What is an e-commerce platform?

An e-commerce platform is the software application where the seller and the customer come together to engage in commerce. Essentially, a customer should be able to use the e-commerce website to discover products, buy them using a shopping cart, and then checkout.

Summary

Nowadays, it is very common to buy things online. In fact, in some countries like Spain, almost everything can be bought online. There are many reasons for this: first of all, there is a lot of variety; secondly, we don’t have to leave home and go to the store; and thirdly, we can compare prices quite easily. All of these reasons make ecommerce stores very attractive for consumers.